Uranium Companies

There are very few pure uranium companies. Most companies, especially the small exploration type, are active in more than the uranium industry. This blog makes no attempt to guage the percentage of a companies activity that are related to the finding, mining or processing of uraniun. They all do, however, have some uranium activities (to the best of our review).

Merv's Uranium Indices

I have developed two Uranium Indices. They each have the same component stocks but are calculated using different methodologies. My weekly Index is based upon the average weekly performance of the component stocks. My daily Index is based upon the daily average of the component stocks open, high, low and close prices along with the daily average volume of all component stocks.

Click on the chart or table to enlage the view.

14 September 2010

Merv's Daily Commentary 14 Sept 2010

After The Close, 14 Sept 2010

Merv’s Daily Uranium Index
Market Data

Open: 169.35
High: 171.85
Low: 166.30
Close: 169.31
Volume: 8069

Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.

Well, once more we had an up day (so to speak) with a very good volume increase. However, looking at the individual stocks only one stock made up for more than half of the volume so that eliminating this one stock the remaining volume was not really that hot. Still, it was an up day again with a BUT, the Daily Index closed just slightly below where it opened on the day. Always a cautionary sign.

The Merv’s Daily Uranium Index closed on the up side ahead 0.34 points or 0.20%. There were 26 winners, 16 losers and 8 stocks considering their options. Cameco lost 0.7%, Extract gained 0.7%, Fronteer gained 0.5%, Paladin lost 0.3% and Uranium One (the volume leader) lost 0.3%. Looks like most of the daily shares were on the down side. The best winner of the day was Tournigan with a gain of 16.7% while the loser of the day was Strathmore with a loss of 5.9%. Market Vectors Nuclear Energy ETF gained 0.6%.

All intermediate and short term indicators are in their positive zones above their positive triggers. About the only indicator of interest is the short term momentum indicator. It has entered its overbought zone and appears to be in a slight turning mode, turning back to the down side. The turn is in a very early stage and may be nothing so we’ll see tomorrow what’s going on. Otherwise both time periods remain BULLISH.

The aggressive Stochastic Oscillator had topped out a few days back and had entered and left its overbought zone. Although the Index made a slight new high today the SO is still some distance below its recent high suggesting weakness in the recent Index action. I’ll go with the lateral as the immediate direction of least resistance for that reason.

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